Century Plyboards (India) Ltd has reaffirmed its FY26 growth guidance across its core product segments—plywood, laminates, MDF, and particle boards—despite near-term demand pressures linked to slower conversion of housing inventory into completed homes. Management highlighted that while residential demand remains subdued in the short run due to project execution delays, a meaningful pickup in consumption is expected over the next two years as stalled and delayed housing projects move closer to completion. This transition is anticipated to unlock pent-up demand for interior and finishing materials, including plywood and laminates, which typically see higher offtake during the final stages of construction. The company believes this structural recovery in housing completions will provide a sustained tailwind for volume growth across its portfolio. In the December quarter (Q3FY26), Century Plyboards delivered a resilient operational performance despite a challenging environment for building material manufacturers. Consolidated revenue rose 18.4% year-on-year to ₹1,350 crore, supported by double-digit growth across all major segments, indicating broad-based demand resilience. Profitability also improved, with EBITDA increasing 32% to ₹170.5 crore, pushing operating margins to 12.6% compared with 11.3% in the corresponding quarter last year. Net profit for the quarter grew 9.4% year-on-year to ₹64 crore. Management attributed the margin expansion to a combination of improved operating leverage, better product mix, and cost discipline, even as input costs and demand volatility remained industry-wide concerns. Speaking to CNBC-TV18, Executive Director Keshav Bhajanka noted that the quarter’s performance was particularly encouraging given the muted demand backdrop in the construction and real estate-linked segments. He added that Century Plyboards continues to focus on capacity utilisation, distribution expansion, and brand-led demand to navigate short-term uncertainties. From a real estate perspective, the company’s outlook underscores a broader industry theme: while housing sales momentum has moderated in some markets, the completion of existing residential inventory could drive a second phase of demand for building materials, fittings, and interior solutions. As housing projects reach handover stages, downstream industries such as plywood, MDF, and laminates are expected to benefit, positioning Century Plyboards to capture incremental growth as the residential cycle gradually normalises.